Balamidas, to answer your question…
We could be in for a short squeeze, but the company controls this more than anybody. If they are really serious about getting CHNW to .01 per share or more, the ball is in their court.
I do think that CHNW and most stocks in the penny world have been naked shorted. Many times though the company sell into runs to kill their growth and investor support. If the company lets it run and confirms more with its FOREX venture, it could be something awesome. It doesn’t trade as though the inventory of shares is zero. That doesn’t mean that there isn’t a naked short position. This is where the confirmation comes into play to force any outstanding covering.
We all know the reason why stocks trade in the market is to sell shares to raise capital to grow their company. Eventually, it is hoped that enough capital is raised to create a profitable business to where selling shares is not necessary anymore to grow the company’s dream. The company can then exist from the sales generated from it business, product, or service that it offers.
If the company or supporters could exercise a bit more patience as news of substance is released, the company would need only to sell a much smaller amount of shares at much higher prices. This is the belief that must manifest from the company and its investors.
As for the 9 million block shares, I would not think that such is an indication of a stock being naked shorted. I bought a position in a stock at .0001 per share (started with a G). Later, a trusted friend told me that it was a scam. (I wasn’t smart to figure it out myself or still never confirmed such.) However, when I sold, I remember selling out at .0001 per share and reading the board and some were saying that it was the MMs naked shorting it and some were saying that it was the company dumping shares. Heck, it was me trying to break even. It was only for about 40 or 50 million shares.
CHNW has potential and I think it can be fundamentally revealed. There are a few more facts about the FOREX opportunity that I must inquiry the company about before I post how this could fundamentally benefit its shareholders as we would like. Just by the things that they have done thus far concerning their FOREX venture is enough for me to believe that they are serious. These are only my opinions though.
v/r
Sterling
